Price decline expected for August PVC in Argentina
29 July 2011 21:42 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) prices in ?xml:namespace>Argentina are expected to drop by $80-100/tonne (€56-70/tonne) in August, although no formal announcements have surfaced, local sources said on Friday.
Earlier projections pointed to a $100-130/tonne decline for next month, participants said.
PVC prices weakened to $1,500-1,600/tonne DEL (delivered) in July, a $40/tonne drop from June, in line with global market dynamics.
The PVC market in Argentina trended with price direction in other Latin American countries. Participants said several factors have played into falling prices in Latin America, among them lower PVC prices in Asia; weak demand from the housing sector in the US; PVC plants in South America and the US running normally; and a soft feedstock ethylene market in the US.
Business is adequate for the winter season in Argentina, local sources said. PVC market activity is steady, with adequate supply to meet demand, as public construction activity has improved.
($1 = €0.70)
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